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I have received a cheque from customer and i deposited into
the bank next 4-5 days cheque has been bounced by the bank.
Pls tell me what is reverce entry in the tally for cheque
bounced and which option i will enter in journal or payment
entry.
Salary . is it direct exp or indrect exp.
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Answer / sankaranarayanan
when u have received a cheque from the customer, what entry u have passed.
Bank A/c Dr xxxx
Party Name A/c xxxx
(When u received from the customer).
If the cheque is returned then reverse
Party name A/c xxx
Bank A/c xxx
If the receipt is not posted in Income a/c.
| Is This Answer Correct ? | 128 Yes | 10 No |
Answer / gkavitha
For Cheque returns JV has to be passed as bank account has
to be credited and party account has to be debited .
and Salaries are indirect exp
| Is This Answer Correct ? | 63 Yes | 9 No |
Answer / pushpal bhattacharya
When you received the cheque (for amount Rs.X) from
Customer, you must have entered the following Receipt:
Credit: Party A/c Rs.X
Debit: Bank A/c Rs.X
When the cheque has bounced, bank must have charged Rs.Y (as
Bank charges), which need to be recovered from the Party.
For this, you need to have a separate ledger "Bank
Charges"(under Indirect Expenses). Then pass the following 2
entries in Tally:
(a) Pass a Journal Voucher as follows:
Debit: Party A/c Rs.(X+Y)
Credit: Bank A/c Rs.X
Credit: Bank Charges Rs.Y
(b) Then, pass a Payment Voucher as follows:
Debit: Bank Charges Rs.Y
Credit: Bank A/c Rs.Y
| Is This Answer Correct ? | 34 Yes | 2 No |
Answer / neeraj
Wages in factory is Direct Expenses,and salary in office staff is Indirect Expenses.
| Is This Answer Correct ? | 31 Yes | 1 No |
Answer / akhila .t.p
Salary is an indirect expense and wages is a direct expense.That's why wages shown on the debit side of the trading a/c, and salary shown on the debit side of the p/l a/c.
| Is This Answer Correct ? | 15 Yes | 0 No |
over draft balance as per cash book (journal entries needed) a,cheques deposited in bank but no entry was passed in cashbook b, credit side of the bank, column cash short c, chques received but not sent to bank d, insurance premium paid by bank as per standing instructions e, credit side of bank, coloumn cash short f, bank charges entered in cash book twice g, cheques received returned by bank but no entry passed h, cheques issued returned on technical grounds i, bills directly collected by bank j, bank charges debited by bank k, cheques received entered twice l, bills discounted dishonoured
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